SPB gets nod for opening eight more branches

The Surat People's Co-operative Bank (SPB), the largest and one of the oldest co-operative banks in south Gujarat region has been given a nod from Reserve Bank of India for opening of eight more branches.

Talking to DNA, Jayvadan Bodawala, the president of Surat People's Bank said, "We currently have 21 branches and have got permission from Reserve Bank for opening one branch at city light road and another at Navsari in the Surat city. In addition, we have also sought permission to open eight more branches in the coming months.We want to expand the operations to other cities and have sought approval for branches in Mumbai, Silvassa, Valsad and Ahmedabad. We have also sought RBI nod for opening a branch on Surat-Dumas road in Surat city” Bodawala added.

Bodawala spoke to the reporters on the occasion of enclosing SPB's all existing branches under Core Banking Solution (CBS).